Powell Is Doing Something Right—Ticked Off CNBC’s #1 Clown, Jim Cramer

“Federal Reserve Chairman Jerome Powell said the central bank has a ways to go yet before it gets interest rates to where they are neither restrictive nor accommodative. In a question and answer session Wednesday with Judy Woodruff of PBS, Powell said the Fed no longer needs the policies that were in place that pulled the economy out of the financial crisis malaise. ‘The really extremely accommodative low interest rates that we needed when the economy was quite weak, we don’t need those anymore. They’re not appropriate anymore… Interest rates are still accommodative, but we’re gradually moving to a place where they will be neutral… ‘We may go past neutral, but we’re a long way from neutral at this point, probably.’”

 

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